RETAIL TRADE

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(52 - 59)

Employment change from last quarter	+ 1.2
Employment change from year ago	+ 2.0
Wage change from year ago	+ 7.1

QUARTERLY

Retail Trade employment rose 1.2% over last quarter adding 4566 employees. Gains were seasonal, influenced by the start up of summer garden and building projects and the summer tourist trade, but the lowest recorded in the last ten years. Restaurants (58) reported the largest sector gain rising by 2810 employees. The majority of the employment increase occurred in Metro Denver. Building Materials-Garden (52) grew by 2162 employees. Many home improvement stores increase staffing at this time of year in anticipation of consumer project undertaking. Nursery and garden stores also increase staff to accommodate increased buying during spring planting. Auto Dealers-Service Stations (55) gained 1085 employees since last quarter. Dealerships added 316 with most gains occurring in existing businesses and in Metro Denver. Fluctuating employment, common to auto supply stores, increased this quarter adding 224. Misc Retail (59) and Apparel & Accessories (56) lost employment dropping 1267 and 1001, respectively. Losses were seasonal following the after Christmas shopping frenzy.


ANNUAL

Employment in Retail Trade grew 2% over second quarter a year ago adding 7538 employees. Employment growth has slowed with this gain the smallest recorded since 1991. All sectors, however, expanded. Restaurants (58), usually the largest contributor to Retail Trade growth over the year, reported lackluster activity gaining only 1204 employees. Its gain is the smallest occurring since 1990. For the second quarter in a row Misc Retail (59) replaced Restaurants with the leading sector growth adding 1488 employees. Misc Shopping Goods Stores generated the largest share of employment growth rising by 963. The components contributing to the sector increase were sporting goods and bicycle shops and souvenir, gift, and party decoration shops. Building Materials-Garden (52) reported the smallest annual gain adding only 134 employees. The expansions by chain stores into Colorado’s home improvement market during 1995, 1996 and early 1997 accounted for much of the past employment increases. Due to the lack of new store openings over the course of the year annual employment growth is low.

Colorado Employment and Wages (ES202) Second Quarter 1998